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R
RealtorFP
January 18, 2024
Question

Deduction error

  • January 18, 2024
  • 1 reply
  • 0 views

My deductions are adding into my income. They should be deducted. Not sure how to fix the issue. 

1 reply

S
ShyMae
January 18, 2024

Welcome to the Community space, @RealtorFP.

I'd like to ask for additional details about your concern to ensure I provide you with the most accurate information.
 

Specifically, where did you see the deductions, and what transaction is associated? Could you please provide me with a screenshot? With the additional context, I'll be able to explore potential solutions to address your concerns.
 

Please let me know through the reply button. I'd be more than happy to assist you. I appreciate your cooperation. 

R
RealtorFPAuthor
January 19, 2024

So for example on the profit and loss statement. Income shows to be 85k with Expenses showing -16k for a total net income of 101k. 

 

It should read 85k for income with 16k in expenses for a total of 69k. 

 

I can't figure out how to fix it or why it is this way.  

S
ShyMae
January 19, 2024

Hello there, @RealtorFP. I'm here to ensure your profit and loss report shows the correct deduction. 

 

Sometimes, the total net income may show inaccurately if the transactions are posted in the incorrect category. It's essential to double-check the posting of your transactions and then make necessary changes. You can also delete and recreate them. 

 

On the other hand, refer to these articles as guidance on how to manage your transactions in QuickBooks Self-Employed:

 

 

Whenever you need my assistance, return here and tap the reply button to enter your queries. Rest assured that I'll get back to you. 

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